Luxury Jeweler, Chow Sang Sang, Selects Nuvei to Power Online Payments and Accelerate Global Expansion

Core Insights - Nuvei has partnered with Chow Sang Sang Holdings International Limited to enhance its global payment capabilities as the jeweler expands into North America [1][3] - The partnership aims to support Chow Sang Sang's digital payments transformation and omnichannel strategy, providing seamless and localized payment experiences [3][4] - The global online jewelry market is projected to grow significantly, with sales expected to rise from $105.6 billion in 2024 to $166 billion by 2029, reflecting a 16% CAGR [3] Company Developments - Nuvei has obtained a Money Services Operator (MSO) license in Hong Kong, allowing it to offer local acquiring and settlement services [2] - The company is expanding its presence in the APAC region, including Greater China, Japan, Singapore, and Australia [2] - Nuvei's technology supports over 200 markets, with local acquiring in 50 markets, 150 currencies, and 720 alternative payment methods [6] Market Trends - The U.S. e-commerce jewelry sales are projected to increase from $22.5 billion to $37.9 billion from 2024 to 2029, more than tripling since 2017 [3] - Luxury brands are increasingly seeking sophisticated payment partners to enhance their global e-commerce capabilities [4] - Chow Sang Sang operates over 900 stores across Mainland China, Hong Kong, Macau, and Taiwan, offering a diverse portfolio of brands [4][5]